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Bivariate Assessments of Real Exchange Rates Using PPP Data

Zalduendo, Juan - International Monetary Fund (IMF) - 2008

This paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of the real exchange rate that shows that these estimations make many restrictive...

Persistent link: https://www.econbiz.de/10005825611

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? the Case of Yemen

Elekdag, Selim; Ltaifa, Nabil Ben; Schneider, Todd; … - International Monetary Fund (IMF) - 2007

Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy...

Persistent link: https://www.econbiz.de/10005825743

A Real Model of Transitional Growth and Competitiveness in China

Lipschitz, Leslie; Verdier, Geneviève; Rochon, Céline - International Monetary Fund (IMF) - 2008

We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...

Persistent link: https://www.econbiz.de/10005825815

Social Welfare and Cost Recovery in Two-Sided Markets

Bolt, Wilko; Tieman, Alexander F. - International Monetary Fund (IMF) - 2005

to increase users' participation by setting prices at both sides of the market such that the total price is below …

Persistent link: https://www.econbiz.de/10005825848

Money Demand and Inflation in Madagascar

Nassar, Koffie Ben - International Monetary Fund (IMF) - 2005

This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in … monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows …

Persistent link: https://www.econbiz.de/10005825934

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006

-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary …

Persistent link: https://www.econbiz.de/10005825964

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Srour, Gabriel - International Monetary Fund (IMF) - 2004

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...

Persistent link: https://www.econbiz.de/10005825986

U.K. Inflation and Relative Prices Over the Last Decade; How Important Was Globalization?

Hunt, Ben - International Monetary Fund (IMF) - 2007

factors argued to explain the differences in the trends in core inflation and relative prices in the United Kingdom, the Euro …

Persistent link: https://www.econbiz.de/10005826211

Barriers to Retail Competition and Prices; Evidence From Spain

Hoffmaister, Alexander W. - International Monetary Fund (IMF) - 2006

Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result are differences in … illustrate the effect of barriers on prices. A unique data set-derived from an extensive analysis of competition policies in … Spain- provides evidence that barriers to entry increase regional prices. The evidence also suggests that, consistent with …

Persistent link: https://www.econbiz.de/10005826506

Mexico'S Integration Into Nafta Markets; A View From Sectoral Real Exchange Rates and Transaction Costs

Juvenal, Luciana; Blavy, Rodolphe - International Monetary Fund (IMF) - 2008

A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we...

Persistent link: https://www.econbiz.de/10005826513

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